Buy a ghost key, or at least always copy the reo key’s so you eventually end up with a big fat roll of possible keys that may work. Keep a disposable freebie plastic card to slide past the lock, those work well on back doors with smaller framing. As the appraiser, you have permission to be there and get into that vacant home. So however you can get in, as long as you don’t damage anything, is permissible. I’ve had police called on me a few times getting into reo vacant homes. Show them the work order, keep a paper printed copy of your communication with the list agent or whomever is involved, hand them your business card, they’ll run your id, and it’s always all good. In some states it’s legal to carry a lock pick set, in others you have to be licensed to do so, check your local state laws. Learning to pick a lock is a good skill to have anyways, there are thousands of locksmith training vids online, and a decent pick set is only fifty to a hundred bucks on amazon.

I don’t see how this could be a deceptive practice to get a free pdc service out of the appraiser. And nobody is going to care that an assignment company cancels the order out from under the appraiser. Reo is one of the most wild west appraisal service types out there. Access is a constant issue and communication between all the parties upstream of the appraiser is sporadic at best. I keep a gallon of water and bar of hand soap in a home depot bucket at all times in the back of my truck, so I can always swish and wash, you never know how bad they are going to be. You know you’re in the mix, when the walls are brown from roach presence and you can taste whatever is polluting the home, in the air. Keep a whistle and your phone on you in case something unexpected happens like the ladder to the crawl space breaks, so you don’t get stranded down there all alone in an empty house. Even if you don’t plan on using it, if you ever go into crawl spaces try to keep the ladder laying right there next to the portal. And be careful taking attic shots, there will be nobody there to help if you fall. True stories. If all the appraiser worries about is missing out on a few mid stream work orders, that’s really not a big deal in the larger scheme of things. Trip fees are $150+, not just $50.

I tell them I will do an appraisal and they can compare mine with the other appraisal. I also quote a full fee for appraisal reviews. Guess what I do not get any takers. I feel it is not my job to police any appraisers. So, I never do appraisal reviews. Some of you may disagree but this my personal opinion. Actually doing an appraisal review can put you more at risk. The client, lender, borrower, AMC, seller, and appraiser could sue you if there is a fall out because of your review.

Sounds good, I’ll do the same.

Lindsey, and so it begins with the AVMs, and the cancellations after the requests and acceptances which should not be allowed. The same thing happened to me this week. I worked on an accepted engagement and after three days of development they cancelled. I will be calling the Georgia Real Estate Appraisers Board and will notify them of what is going on. Also, the AQB and ASB along with FNMA and FHLMC. This is enough.

A review is an appraisal

How about being geographically competent?

They have a US mailing address. They do not have a US presence. Quick clarification there.

It’s just entry level telecom busy body computer work for an entry level wage. All day long, feeding in new xml appraisal files, running the software, copying the alerts, mailing the revisions, waiting for the appraisers response, clearing the file, recording the file clearance, on to the next file. They may even be messaging something like an amc whom then sends the message to the appraiser, the appraiser responds to the amc, whom then relays the appraisers response back to the reviewer, and the reviewer relays the clearance to the amc, whom relays the clearance to the lender and the appraiser, etc, etc.

And that’s where all the appraisers money went when you allow your fee to be shared with third party companies. I remember the good old days when lenders paid for their own review services and did not try to make the appraisers pay to have their own work reviewed. Rather, two appraisers would get paid instead of just one whom had to share their fee with an amc, and instead one appraiser would review the other appraiser. Lenders would shuffle the appraisal and the legitimate standard 3 compliant appraisal review in the loan package, write a few checks directly to the appraiser with no fee sharing, call it a day. Everyone was happy and there was no outsourcing of this nature or unnecessary third or fourth or fifth party management and review companies.

By compartmentalizing all these mundane tasks the lender saved themselves like a whole five minutes, and created hours of busy body work down the line while completely dismantling the appraisal industry, whether that was intentional or not. Appraisers have lost untold quadrillions of hours of wasted time and wasted efficiency being subjected to dealing with all the outsourcing. Just so the lenders could save five minutes and write one check instead of two.

They’re just normal working everyday call center people. There is the factor of risk though, because there are a lot of corrupt industries in India, but they’re not all that way. They’re in another country and can run the benefit of scale. I was looking at currency conversion and affordability indexes, they’re everyday workers at those wages, but in India. They seem nice enough.

Yes

Anthony, alot of the AMCs tell the client that they offer Review under the disguise of Quality Control which is against USPAP Standards 3. Honestly who in the world is going to stand up to these lousy cottage industries perpetuated by the AMCs or their clients. C’mon.

Absolutely.

Why in the world would Trump have anything to do with this? Check out FNMA, FHLMC, USPAP, AQB, ASB, The Appraisal Foundation. The same entities who have nothing to say about the AVMs or the AMCs for that matter.. Sounds WOKE or DEI BS. Most likely all going out of this country. Honestly.

Oh no, Scott you’re tempting me to pull out old revision stipulations and post them online. That’s always entertaining.

I mean anyone can buy into ‘appraisal review software’ and use it right out of the box. Literally anyone. There are hundreds of different software choices too. It’s easier than mowing a lawn. Online research keywords: xml ‘appraisal review’ software

https://www.veros.com/solutions/collateral-risk-management/veroscore
https://www.appraisalvision.com/smartreview/